Fed says stimulus wind down to begin ‘relatively soon,’ leaves rates unchanged

The Federal Reserve laid the groundwork Wednesday to begin winding down shortly the massive stimulus program it embarked on to rescue the economy from the financial crisis. As expected, the Fed also unanimously declined to raise interest rates this month. After its two-day policy meeting, the Federal Open Market Committee released a statement containing key language that points to starting the move in September. At that time, the central bank will begin rolling off the $4.5 trillion portfolio...
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Amber Waves of Grain

Of the 14 commodities we track closely at U.S. Global Investors, wheat rose to take the top spot for the first half of 2017, returning more than 25 percent. The grain was followed closely by palladium—used primarily in the production of catalytic converters—which gained 24 percent. To view our ever-popular, interactive Periodic Table of Commodity Returns, click here. Between the start of the year and June 30, the Bloomberg Commodity Index contracted 4.03 percent, with energy weighi...
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Contributed Commentaries It’s Do or Die for Gold and Silver

(Kitco News) - Being bullish on the metals has been painful; there has been a dramatic drop off in interest as these markets have mostly drifted or got pounded lower. We were and still are bullish but our line in the sand comes right here in the $1,220 area in gold(puking out under $1,200) and the $16.00 level in silver (trading at $15.98, puking out at $15.70). The metals story has been very conflicted with the weight on the dollar and the support levels the metals had the weakness is surpri...
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Oil prices could jump $10 a barrel if OPEC extends output cap deal, analyst says

It has been a troubled week for oil prices, which dropped to below the $50 a barrel threshold for the first time this year. But the cost of a barrel of oil could jump to $60 by the end of this year, if OPEC countries decide to extend their output cut agreement, an analyst told CNBC. "We could see WTI go down into the mid-40s but we do still see that rebalancing story intact. Fundamentals haven't changed dramatically this week," Richard Mallinson, geopolitical analyst at Energy Aspects, told CN...
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Global stocks off highs, dollar edges lower as Fed rate rise looms

By Vikram Subhedar | LONDON The dollar retreated on Friday after two days of gains while world stocks pulled further back from all-time highs as investors unwound positions on growing expectations that U.S. interest rates will be hiked later this month. Federal Reserve officials have lined up to sing about the need for higher rates soon, sending the implied probability of a move this month surging to 74 percent, from just 30 percent at the start of the week. [FEDWATCH] Fed Chair Janet Y...
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Gold And Silver: Opportunity Of A Lifetime?

Over the past 39 years, I have rarely used the words “opportunity of a lifetime.” However, I feel there is a good chance of another one in progress. Let’s look at gold since the late 1970s. History may not exactly repeat, but often it rhymes. In 1977, when my firm, Dohmen Capital, was founded, I started the  Wellington Letter and I was correctly bullish on gold. It soared from around $120 when I recommended it to more than $800 during the next three-plus years. Then, when gold dropped throug...
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EXCLUSIVE-Iran capitalizes on OPEC oil cut to sell millions of barrels – sources

Jonathan Saul RAUTERS LONDON, Jan 6 (Reuters) - Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources and data. In the past three months, Tehran has sold almost half the oil it had held in floating storage, which had tied up many of its tankers as it struggled to offload stocks in an oversupplied global market. Th...
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Oil prices down after first-day optimism fades

By Daniel J. Graeber  NEW YORK, Jan. 4 (UPI) -- Crude oil prices lost some ground in early Wednesday trading as competing narratives pulled on market direction after sharp volatility in the previous session. Optimism faded late in the trading day Tuesday to erase a rally that pushed oil prices to 18-month highs after Kuwait and Oman separately confirmed early compliance with a deal crafted by the Organization of Petroleum Exporting Countries to cut production in order to draw on suppli...
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Gold Ends Higher, Shrugs Off Fed Minutes

By Teresa Rivas Gold continued its winning streak for a second day Wednesday, and it headed higher in electronic trading after the release of the latest Fed minutes. Gold for January delivery gained $3.40 per troy ounce, or 0.29%, to $1163.80 today, putting it up 1.2% for the year so far, and it inched up after the release of the Federal Reserve’s latest meeting minutes. Although higher interest rates on the horizon normally aren’t good news for gold, investors were happy that the Fed di...
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The Price of Silver in 2016 Climbed 15%. Here’s Why.

The precious metal climbed but fell back from its best levels of the year. Find out more about what happened. The price of silver rebounded in 2016 from where it began the year, with prices in New York trading climbing more than $2 per ounce to close the year at $15.88. That was a nice move upward in a market that has seen a lot of turmoil in recent years, but even the gain of roughly 15% in the iShares Silver Trust (NYSEMKT:SLV) didn't do much to claw back losses that took the silver market do...
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